On 6 September 2023, The Financial Services and Markets Act 2000 (Exemptions from Financial Promotion General Requirement) Regulations 2023 was published.
The Financial Services and Markets Act 2023 introduces a regulatory ‘gateway’ for the approval of financial promotions. The ‘gateway’ will require any authorised person wishing to approve financial promotions of an unauthorised person to first obtain permission from the FCA, unless an exemption applies. The Regulations legislates for the three exemptions that the Government stated it would put in place following the public consultation on this policy.
The Regulations will come into force on 27 September 2023.